Hyderabad, Sialkot added to PSL as franchise expands to eight teams

The Pakistan Super League (PSL) expanded to eight teams on Thursday with the addition of Hyderabad and Sialkot as new franchises, marking the league’s second major expansion.

FKS secured the Hyderabad franchise for Rs1.75 billion, while OZ Developers acquired the Sialkot team for Rs1.85 billion at a competitive auction.

All 10 pre-qualified bidders participated in the auction, submitting competitive bids for ownership of the new team.

The auction took place at the Jinnah Convention Centre in Islamabad, and was live-streamed.

“A total of 10 technically qualified bidders will be vying for two teams as the HBL PSL is set to expand from six to eight teams in its 11th and landmark season, which is scheduled to take place between 26 March and 3 May 2026,” the PCB had said earlier.

The bidders included a diverse pool of businesses ranging from areas such as agribusiness, telecommunications, real estate, a software company from the US, and tech companies from Pakistan and abroad, added PCB.

“The pool of cities shortlisted for potential franchise allocation includes Faisalabad, Gilgit, Hyderabad, Muzaffarabad, Rawalpindi, and Sialkot.”

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The PCB said that after the massive success of the two HBL PSL roadshows in London and New York on 7 and 13 December 2025, respectively, 12 parties filed bids for the two new teams, but after “a thorough technical evaluation process, 10 bidders were set to fight out for ownership of two new teams through an open auction.

These included:

1. Aim Next inc - Mr. Umar Mushtaq and Mr. Ali Mushtaq
2. Deharki Sugar Mills - Mr. Makhdoom Syed Ali Mahmud
3. FKS - Mr. Fawad Sarwar
4. Inverex – Mr. Muhammad Zakir Ali
5. i2c - Mr. Amir Wain
6. Jazz - Mr. Amir Ibrahim
7. OZ Developers - Mr. Hamza Majeed
8. Prism Developers – CEO Mr. Masood Alvi
9. VGO TEL - Mr. Naveed Gaba
10. Walee Technologies - Mr. Ahsan Tahir

Pakistan will hold the 11th edition of the PSL from March 26 to May 3.

Ali Tareen withdraws from PSL auction

Earlier, former Multan Sultans owner Ali Tareen withdrew from the auction, saying his association with the league has always been rooted in representing south Punjab rather than merely owning a cricket team.

In a statement shared on X, Tareen announced that he and his family would not be taking part in this year’s franchise auction.

Reflecting on his tenure with Multan Sultans, Tareen said their involvement was driven by a desire to give a voice to south Punjab, a region he said had long been overlooked.

He noted that this sense of regional representation shaped everything they built during their time with the franchise.

Tareen said any future return to the PSL would be for the same purpose, adding that south Punjab remains close to his heart.

For now, he said, he would support the league from the stands, backing the players and celebrating with fans, while indicating readiness to return when the Multan franchise is put up for sale again.